The Black Economic Alliance Entrepreneurs Fund LP, which is raising $50 million to support young startups, is over halfway towards its goal. As stated in a filing last week with the Securities and Exchange Commission, the fund has currently raised $28.5 million and is led by venture capitalist Melissa Bradley. The Washington Business Journal reported that she shared that the fund’s investment will focus on young companies that specialize in products or services in four key areas: financial inclusion, health and wellness, sustainable communities, and what she called “narrative change”—companies focused
In 2024, US startups with Black founders received just 0.4% of total funding, the lowest share in recent years and down more than two-thirds from just three years ago. According to Crunchbase data, overall startup funding increased to $314 billion last year, but only $730 million went to Black founders. Which Black startups received the most funding last year? Twelve picked up a $200 million Series C in September, led by Capricorn Investment Group, Pulse Fund, and TPG. The startup converts carbon dioxide into jet fuel and other practical products. The company also
Anthropic has deleted commitments made during the Biden administration in 2023 to encourage safe and “trustworthy” AI, from its website according to The Midas Project. However, Jack Clark, co-founder of Anthropic, has since stated that the company still intends to honor its voluntary commitments. Biden-Era AI Policy Commitments In July of 2023, Anthropic and other companies like OpenAI, Google, Microsoft, and Meta agreed to comply with specific voluntary AI safety commitments suggested by the Biden administration. The initiatives included internal and external security tests of AI systems before release, investing
Over 100,000 people have pledged to boycott Target for 40 days in protest of the company’s rollback of DEI initiatives. The boycott, which began on Wednesday, March 4, was organized by Pastor Jamal Bryant. According to The Washington Post, the movement spans cities including Atlanta, Houston, Jacksonville, Florida, and Alexandria, Virginia. The “Target Fast” occurs simultaneously as Lent, when some Christians commit to fasting and will be the latest boycott against one of the biggest retail companies in the US. Why are people boycotting Target? In January, Target announced that
Last week, a federal judge temporarily blocked President Trump’s executive orders to cut federal support for diversity, equity, and inclusion (DEI) programs, ruling that they likely violate the First Amendment and other constitutional protections. Judge Rejects Trump’s DEI Crackdown AP News reports that US District Judge Adam Abelson in Maryland issued an injunction on February 21, preventing the administration from terminating or altering federal contracts tied to DEI. Baltimore officials and three organizations brought the lawsuit, arguing that Trump’s orders unlawfully suppress free speech and overstep presidential authority. Abelson agreed
Techish is back! This week, Abadesi and Michael kick off the episode with the backlash over Stormzy’s McDonald’s collaboration. They also break down Meta’s latest layoffs and how performance reviews play into the mix. Then, they take a look at the rising cost of concert tickets—why are prices for artists like Beyoncé skyrocketing? Finally, they discuss the future of DEI in corporate America and what these shifts mean for the people driving the work forward. Chapters 00:25 Stormzy’s McDonald’s Collaboration Sparks Backlash09:49 Meta Lays Off “Low Performers”16:03 Cowboy Carter Tour:
Tech workers union Prospect is asking UK lawmakers to examine the diversity efforts of US multinational companies operating in the UK to ensure they comply with UK regulations and values. It has written to Parliament’s Women and Equalities, asking them to review American businesses rolling back DEI efforts. “Prospect represents thousands of UK tech workers, including in companies like Meta, and we have been alarmed to see how these companies have acted since Donald Trump’s inauguration as President,” the letter stated. It added “Not only have the CEOs of many
The NAACP has announced the launch of the Black Consumer Advisory to help Black consumers stay informed on which companies promote diversity. As more companies continue to scale back their DEI programs, Black consumers should spend their money where they are valued. However, they can only do this if they know which companies value diversity and inclusion. This is why the NAACP is creating the Black Consumer Advisory, to remind Black consumers that their money is valuable. “The NAACP stands firm in our belief that, in a global economy, those
Deloitte recently shared that it would scrap its diversity goals and urged government contract employees to remove gender pronouns from their email signatures. However, in the UK, Deloitte’s senior partner and chief executive Richard Houston informed staff in an email that diversity “remains a priority” despite the US firm’s plans for DEI. Deloitte US rolling back on DEI efforts. The Financial Times reported that the firm told consultants to remove pronouns highlighting their gender from external emails to align with emerging government client practices and requirements,” as stated by people with
NBCUniversal and its parent company, Comcast, are under federal investigation over their DEI initiatives and practices. Investigation into DEI efforts at Comcast In a letter dated February 11, the Federal Communications Commission (FCC) announced it is investigating Comcast and its media arm, NBCUniversal, citing “substantial evidence” that they continue to promote DEI in violation of FCC regulations. The investigation follows President Trump’s executive order, signed on January 21, which ended DEI programs across the federal government and directed US agencies to encourage the private sector to do the same. FCC
